Real Money

AuRico Reports Record Revenues And Earnings For Q4 And Full Year 2011

(1) In the Company's consolidated financial statements, financial results from the Fosterville and Stawell mines are presented separately as discontinued operations and are excluded from the results from continuing operations. This press release presents all data on a consolidated basis, unless otherwise indicated.

(2) Gold equivalent ounces produced are presented using the gold equivalency ratio realized in the period, unless otherwise indicated.

(3)Gold equivalent reserves have been calculated using a gold equivalency ratio of 54.35:1.

Recent Highlights

Wet commissioning of the Young- Davidson mill commenced on March 8, 2012 with ore processing beginning on March 22, 2012. Mill systems required for initial production are complete and we have stockpiled more than 575,000 open pit tonnes of ore, or 3 months of mill feed, ahead of the mill facility for processing.

On March 5, 2012, the Company announced the addition of 1.58 million gold equivalent ounces to proven and probable reserves at the North American operations, prior to depletion of 0.471 million gold equivalent ounces, for a total 8.2 million gold equivalent ounces. Included in this increase is the addition of 1.01 million gold ounces at Young- Davidson, and 456 thousand gold equivalent ounces at Ocampo, prior to mining depletion of 177 thousand gold equivalent ounces. The drilling discovery cost for all reserve and resource categories at the Company's North American operations was approximately $8.00 per gold equivalent ounce.

During the first quarter, underground re-sequencing continued at Ocampo with grades ramping up to previous levels during the quarter. Undergrounds grades returned to targeted levels by the end of March.

On March 27, 2012, the Company entered into a definitive agreement with Crocodile Gold Corp. ("Crocodile Gold") pursuant to which Crocodile Gold will acquire the Company's Stawell and Fosterville mines located in Australia through the acquisition of all of the shares of Northgate Australian Ventures Corporation Pty Ltd, for total consideration of up to CAD $105 million. Consideration will be comprised of CAD $70 million in cash, CAD $10 million in Crocodile Gold shares, and CAD $25 million in contingent payments to be paid in three installments on each of the first three anniversaries of the closing date. The contingent payments are conditional upon the simple average gold price exceeding AUD$1,500 per ounce in the preceding twelve month period. Closing is expected to occur on or about May 1, 2012.